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Avant and the rest of the financial tech industry need a secondary market

from Crain's Chicago Business

The Treasury Department's white paper on marketplace lenders like Chicago's own Avant, as well as LendingClub and On Deck Capital, was called a "welcome to the real world' moment" by analyst Ian Katz at Capital Alpha. That's the logical takeaway from other observers as well — the notion that the industry was overdue for a critical look from regulators such as the Securities and Exchange Commission and the Consumer Financial Protection Bureau. more

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